CFTC PR 6026-11 April 27, 2011 The CFTC held a public meeting on Wednesday, April 27, 2011 to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics: Capital Requirements of Swap Dealers and Major Swap Participants; Protection of Cleared Swaps Customer Contracts and Collateral and Conforming Amendments to the Commodity Broker Bankruptcy Provisions; Product Definitions Contained in Title VII of the Dodd-Frank Act; and Amendments to Adapt Certain CFTC Regulations to the Dodd-Frank Act. Opening Statements Opening

British and Irish Legal Information Institute April 20, 2011 The British Bankers' Association ("BBA") has failed in its attempt to obtain a judicial review of the FSA regulations governing the sales of payment protection insurance ("PPI"); a type of loan insurance which covers debt repayments if a borrower is unable to work due to an accident, illness or period of unemployment. In October 2010, British banks, represented by the BBA, had requested a judicial review to examine changes in the way banks were permitted to sell loan cover. British banks claimed that the new FSA rules were being used

SEC Release No. 34-64336 April 25, 2011 The SEC announced the filing of two administrative enforcement actions against an investment adviser, its president, and the broker-dealer it employed relating to transactions that sought to "mark the close" in certain illiquid securities. According to the release, the adviser repeatedly had its broker-dealer execute trades in order to inflate the prices of certain illiquid securities by placing buy orders at prices well above the most recent previous trade before closing. The SEC charged both the adviser and the broker-dealer with violating Exchange Act

Study and Recommendations on Section 404(b) of the Sarbanes-Oxley Act of 2002 For Issuers With Public Float Between $75 and $250 Million April 22, 2011 The SEC published a study it submitted to Congress, as required by the Dodd-Frank Act, regarding ways to reduce the burdens imposed by § 404(b) of the Sarbanes-Oxley Act on issuers with a public float between $75 and $250 million. The study sets forth two principal goals: (1) maintaining current investor protections of § 404(b) for accelerated filers; and (2) encouraging activities to improve the "effectiveness and efficiency" of § 404(b)

SEC Press Release No. 2011-98 April 25, 2011 The SEC announced that it settled insider trading charges against a former analyst at a broker-dealer. The SEC had alleged that the analyst illegally traded in advance of a corporate takeover by a company that the broker-dealer had advised. Cross References SEC Press Release No. 2010-153 (SEC announcement of asset freeze) SEC Complaint Exchange Act §§ 10(b), 14(e) Exchange Act Rules 10b-5; 14e-3